The Qatar Stock Exchange on Thursday reversed two days of bearish spell to gain 65 points, mainly on the back of real estate equities.
The bullish outlook of non-Qatari and Gulf individuals as well as the weakened selling pressure from local retail investors helped the 20-stock Qatar Index gain 0.63% to 10,287.7 points.
However, foreign funds’ buying interests decreased and there was increased selling pressure from Gulf institutions in the market, which is up 20.7% year-to-date.
Market capitalisation expanded more than QR4bn, or 0.72%, to QR587.92bn mainly owing to the large cap segment.
Islamic equities were seen gaining faster than the main index in the market, where domestic funds turned net profit takers.
Trade turnover and volumes were on the increase in the bourse, where the industrials, real estate and banking sectors together accounted for about 86% of the total volume.
The Total Return Index gained 0.63% to 18,125.78 points, the Al Rayan Islamic Index (Price) by 0.68% to 2,392.73 points and the All Share Index by 0.82% to 3,068.96 points.
The realty index soared 3.37%, followed by banks and financial services (0.81%), transport (0.59%), consumer goods (0.44%), telecom (0.35%) and industrials (0.09%); while insurance declined 2.64%.
About 73% of the traded stocks extended gains with major movers being Ezdan, Qatari German Company for Medical Devices, United Development Company, Barwa, Mazaya Qatar, Milaha, Doha Bank, Al Khaliji, Vodafone Qatar and Medicare Group; even as Commercial Bank, Qatar Oman Investment, Qatar Industrial Manufacturing, Qatar General and Reinsurance and Gulf Warehousing were among the losers.
Non-Qatari individuals turned net buyers to the tune of QR1.59mn against net sellers of QR0.9mn on December 26.
Gulf individuals were also net buyers to the extent of QR0.93mn compared with net sellers of QR0.42mn on Wednesday.
Local individuals’ net profit booking declined influentially to QR3.72mn against QR11.98mn the previous day.
However, Gulf institutions’ net selling increased considerably to QR8.66mn compared to QR5.11mn on December 26.
Domestic institutions turned net sellers to the tune of QR2.51mn against net buyers of QR0.88mn on Wednesday.
Non-Qatari funds’ net buying weakened significantly to QR12.4mn compared to QR17.52mn the previous day.
Total trade volume rose 28% to 11.82mn shares, value by 57% to QR220.33mn and transactions by 15% to 6,503.
The insurance sector’s trade volume grew more than seven-fold to 0.37mn equities and value by about 14-fold to QR12.44mn on more-than-tripled deals to 190.
The telecom sector’s trade volume rose five-fold to 0.55mn stocks and value by more than seven-fold to QR7.57mn on more-than-five-fold growth in transactions to 335.
The consumer goods sector’s trade volume almost tripled to 0.61mn shares and value more than doubled to QR17.1mn on more-than-doubled deals to 368.
The real estate sector’s trade volume more than doubled to 2.76mn equities and value also more than doubled to QR41.78mn on more-than-doubled transactions to 748.
The banks and financial services sector’s trade volume more than doubled to 1.94mn stocks and value more than tripled to QR51.89mn on more-than-doubled deals to 1,130.
The market witnessed a 55% surge in the transport sector’s trade volume to 0.17mn shares to more than double value to QR4.72mn on a 45% rise in transactions to 305.
However, the industrials sector’s trade volume tanked 22% to 5.42mn equities, value by 3% to QR84.83mn and deals by 22% to 3,427.
In the debt market, there was no trading of treasury bills and sovereign bonds.